77,972 Shares in BlackRock Credit Allocation Income Trust $BTZ Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. purchased a new position in BlackRock Credit Allocation Income Trust (NYSE:BTZ) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,972 shares of the investment management company’s stock, valued at approximately $797,000.

A number of other hedge funds have also recently added to or reduced their stakes in BTZ. Fifth Third Bancorp acquired a new position in shares of BlackRock Credit Allocation Income Trust during the first quarter worth approximately $34,000. Comerica Bank lifted its holdings in shares of BlackRock Credit Allocation Income Trust by 136.5% in the 3rd quarter. Comerica Bank now owns 4,063 shares of the investment management company’s stock worth $45,000 after purchasing an additional 2,345 shares in the last quarter. Advisory Services Network LLC acquired a new stake in BlackRock Credit Allocation Income Trust in the 3rd quarter valued at $103,000. Equitable Holdings Inc. acquired a new stake in BlackRock Credit Allocation Income Trust in the 3rd quarter valued at $113,000. Finally, Stephens Inc. AR bought a new stake in BlackRock Credit Allocation Income Trust during the 1st quarter valued at $106,000.

BlackRock Credit Allocation Income Trust Stock Performance

BTZ opened at $10.14 on Thursday. The company’s fifty day moving average price is $10.16 and its two-hundred day moving average price is $10.23. BlackRock Credit Allocation Income Trust has a 1-year low of $9.70 and a 1-year high of $11.18.

BlackRock Credit Allocation Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0839 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 9.9%.

BlackRock Credit Allocation Income Trust Profile

BlackRock Credit Allocation Income Trust (NYSE: BTZ) is a closed-end management investment company sponsored by BlackRock Fund Advisors. The trust seeks to provide investors with a high level of current income, as well as the potential for capital appreciation, through an actively managed portfolio of credit and income-producing securities. BTZ primarily focuses on instruments that offer attractive yields while aiming to preserve capital over the long term.

The portfolio is diversified across a broad spectrum of credit sectors, including investment-grade corporate debt, high-yield bonds, leveraged bank loans, residential and commercial mortgage-backed securities, and asset-backed securities.